Wells Fargo Wants Nadel Receiver Booted From SEC Suit

By Max Stendahl

Law360, New York (February 29, 2012, 8:25 PM ET) -- The receiver for the estate of jailed Ponzi schemer Arthur G. Nadel should be disqualified from a civil suit over the $168 million fraud due to “myriad” conflicts of interest, Wells Fargo Bank NA told a Florida federal judge Wednesday.

The bank sought to oust receiver Burton W. Wiand and his law firm Wiand Guerra King PL from the case, filed in January 2009 by the U.S. Securities and Exchange Commission. Nadel pled guilty in February 2010 to criminal charges that he ran a Ponzi scheme...